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Newcastle Herald
Newcastle Herald
Business
Penelope Green

'I bought my first house at 19 on a tap dancer's budget'

Tapping new potential: "I enjoy helping people and taking the stress out of real estate for them," says Garon Michalitsis. Picture: Jonathan Carroll

GARON Michalitsis was a teenager when he bought his first property in Cooks Hill.

"It was $212,00 for a freestanding townhouse. I put tenants in there and that just started it my interest in real estate. I could see what real estate can do for people over a long period of time," the now 42-year old says.

Mr Michalitsis was able to get his foot into the market thanks to his own fancy footwork: at 16, he quit school at New Lambton High after he successfully auditioned to be part of the troupe the Newcastle-founded, world-famous Tap Dogs. He began tap dancing as a toddler with his tap dance teacher mother and was then tutored by the late Les Griffiths, who taught Tap Dogs founder Dein Perry.

"I think my teacher at the time thought it was usual that I was quitting school because I didn't seem like the kind of student who would," he laughs.

Mr Michalitsis was only meant to tour for a few months, but he tap danced around the world for a decade.

There were many highlights: performing at the 2000 Sydney Olympics opening ceremony, on The Jay Leno Show in Las Vegas and in the movie Bootmen. His favourite moment, however, came in 1999, when the Tap Dogs performed alongside a who's who of celebrities on a show celebrating US music and record producer Quincy Jones.

"We opened the show with Stevie Wonder so that was number one...Even if I watch it now it gives me goosebumps," he says.

Mr Michalitsis returned to the Hunter in his mid 20s and worked as operations manager at his parents' transport company before last year he decided to pursue a long-held ambition to be a real estate agent and enrolled himself at TAFE.

The Tap Dogs perform with Stevie Wonder

"It had been was in the back of my mind and I didn't want to regret not going down that road," he said.

"I guess I have always been goal-oriented and I wanted to make a change and get into something that didn't feel like I was working and something I enjoyed doing, like tap dancing."

Mr Michalitsis, who sold his first property 12 years ago when he bought a family home in Charlestown, has investment properties in Newcastle and Lake Macquarie.

In February, he made his debut as an agent at Stone Real Estate's Newcastle and Lake Macquarie office and says he has enjoyed the new responsibilities and "just helping people".

"I felt like I wanted to get out in the community and help people achieve their goals," he said.

He believes the market is slowing compared to the peak prices seen in the past 24 months but does not believe there will be a crash.

"The market is slowing down to more of a normal market and instead of getting 10 offers submitted you might get a few," he notes.

"It's a strong market but it depends on what else is happening, also in the world market. We've been pretty lucky in Newcastle in the last two years."

Market observer: Garon Michalitsis purchased his first home at the age of 19. Picture: Jonathan Carroll

He says his goals at the start of his real estate career are to simply leave customers with a positive experience and earn a good reputation for assisting them reach their goals.

As a veteran market observer, his advice for those trying to get into the property market is to "start small".

"You may need to start with something like a townhouse or a unit which is not in your preferred location. Your first house is not your dream house," he says.

"Also, you should not expect your property to be worth so much more two years after you purchase. You should anticipate holding on to it for up to 10 years to realise a true gain."

" And if you are considering buying multiple properties, seek professional advice early on to avoid costly mistakes further down the track."

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